In holiday shortened trading week, investors gain N609.27bn to sustain bullish run

Despite the holiday-shortened trading week due to the Christmas festivities, the Nigerian equities market still maintained its bullish run raking in a profit of N609.27 billion for investors on the trading floor of the Nigerian Xchange (NGX).

This follows a gain of N1.061 trillion the previous week.

The bourse recorded gains in two of the three trading sessions this week due to the Christmas and Boxing Day break and still end up with a profit of N609.27tr

The market capitalization increased to N61.912 trillion from N61.303 trillion the previous week.

Similarly, the All-Share Index (ASI) appreciated by 0.99% to close the week at 102,133.30 points from 101,129.09 points recorded the previous week.

The Nigerian equities market began the week on Monday, December 23, 2024, with a profit as investors gained N137.64 billion at the end of the trading session.

The market closed on Christmas Eve on Tuesday, December 24, 2024, with a profit of N503.60 billion.

The market then went on a break as the Federal Government of Nigeria declared Wednesday December 25 and Thursday December 26, 2024, as Public Holidays to commemorate the Christmas Celebration.

The market returned from the holiday season with a loss on Friday, December 27, 2024, as investors lost N31.97 billion at the end of the trading session.

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A total turnover of 1.387 billion shares worth N52.023 billion in 33,411 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.536 billion shares valued at N91.382 billion that exchanged hands last week in 51,406 deals.

The Financial Services Industry (measured by volume) led the activity chart with 881.646 million shares valued at N17.774 billion traded in 14,968 deals; thus contributing 63.58% and 34.17% to the total equity turnover volume and value respectively.

The Oil and Gas industry followed with 103.763 million shares worth N12.438 billion in 4,554 deals.

Third place was the services Industry, with a turnover of 98.622 million shares worth N482.169 million in 1,998 deals.

Trading in the top three equities namely United Bank for Africa Plc, Universal Insurance Plc and Zenith Bank Plc (measured by volume) accounted for 294.032 million shares worth N8.117 billion in 3,834 deals, contributing 21.20% and 15.60% to the total equity turnover volume and value respectively.

Sixty-four (64) equities appreciated in price during the week, higher than sixty-one (61) equities in the previous week. Twenty (20) equities depreciated in price lower than twenty-six (26) in the previous week, while sixty-nine (69) equities remained unchanged, higher than sixty-six (66) recorded in the previous week.

Ikeja Hotel Plc recorded the biggest share price increase in percentage gaining 32.79% followed by Multiverse Mining And Exploration Plc which increased its share price by 32.61% in the process.

PZ Cussons Nigeria Plc also increased its share price by 26.09%.

On the flip side, Thomas Wyatt Nig. Plc recorded the biggest decline in share prices by percentage shedding 10% followed by Aradel Holdings Plc which shed 9.64% of its share prices.

Austin Laz & Company Plc also knocked off 9.29% of its share prices.

By: Babajide Okeowo

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